In October trade of goods to Sweden increased significantly

In October 2010, exports of goods from Estonia amounted to 13.1 billion kroons (840 million euros) and imports to Estonia to 13.3 billion kroons (850 million euros). The trade deficit amounted to 0.2 billion kroons (10 million euros), which was more than fourfold smaller than in October 2009.

In October, for two months in succession, the first place in Estonia’s export destination countries was held by Sweden (19% of Estonia’s total exports), followed by Finland (16%) and Russia (10%). Compared to October of the previous year, exports to Sweden increased by 1.4 billion kroons (87 million euros). Exports increased significantly also to Finland and Russia. Electrical equipment and furniture were mainly exported to Finland and electrical equipment and paints and varnishes to Russia.

The main countries from where goods were imported to Estonia were Finland (15% of Estonia’s total imports), Germany and Sweden (12% from each). Arrivals from Sweden increased by 0.7 billion kroons (46 million euros) or 79%. Arrivals from Germany also increased significantly. Electrical equipment and oil products were mainly imported from Finland, vehicles and parts thereof and electrical equipment from Germany and Sweden.

In Estonia’s exports the biggest share was held by the commodities of machinery and equipment (a quarter of Estonia’s total exports), mineral products (12%) and agricultural products and food preparations (11%). Exports of machinery and equipment increased nearly twofold compared to October of the previous year. Exports of mineral products (incl. fuels and electricity) and transport equipment also increased significantly (63% and 68%, respectively).

In October the biggest share of Estonia’s imports was also held by machinery and equipment (28% of Estonia’s total imports), mineral products (12%) and agricultural products and food preparations (11%). Compared to October 2009, arrivals of machinery and equipment increased by nearly twofold. Imports of metals and products thereof also increased significantly (76%).

In October compared to September this year, exports and imports of goods decreased by 1%.

In Baltic countries exports of goods increased by a quarter in Latvia and imports by 28% in October 2010 compared to the same month of the previous year. Exports of goods in Lithuania increased by 44% and imports by 38%.

The preliminary foreign trade data about October were released by Statistics Estonia on 10th December (on the 40th day after the end of the reference period). This news release provides the revised data and offers a more detailed overview of trade about the month under observation.